In a bid to own the Indian beauty market, Reliance Retail Ventures Limited (RRVL) has acquired the exclusive rights to Sephora’s India presence, The Business of Beauty has learned. As part of the partnership with LVMH-owned Sephora, Reliance Retail will take over the operations of Sephora’s 26 stores from Arvind Fashions Limited, and begin work to expand Sephora’s presence in the country.
Sephora originally entered India in 2012. By partnering with Reliance, which launched beauty platform Tira in April, both brands are better positioned to take on Nykaa, a leader in the Indian beauty market. Meanwhile, Sephora’s well-known global lines like Charlotte Tilbury and Fenty Beauty get a boost.
Describing the Indian consumer journey as being at a “tipping point”, V Subramaniam, director at RRVL, said in a press release, “The burgeoning Indian beauty market is being propelled by a new generation of customers with a strong desire to express their individuality, rising aesthetic refinement and a growing number of women in the young workforce of India.”
The Indian beauty and personal care market is valued at $17 billion, and is considered to still be in its infancy. Many position India as one of the largest untapped consumer markets globally.
Learn more:
Decoding the Indian Beauty Landscape
BoF shares product and consumer insights on the growth potential of India’s beauty and personal care market.
